- The new legislation on the reduced VAT rate for demolition and reconstruction of buildings in Belgium was published on December 29, 2023.
- It merges the permanent scheme for 32 central cities and the temporary scheme for the entire Belgian territory.
- The reduced VAT rate will apply to works on immovable property meeting social and material conditions.
- The formal conditions and anti-abuse provisions have also been outlined.
- Transitional measures are provided for ongoing real estate projects, based on the old temporary measure and the old arrangement in the 32 central cities.
Source EY
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